intrinsic and extrinsic uncertainty are derived from firms' daily stock returns and S&P 500 index returns along with a CAPM …. Financial frictions captured by interactions between firms' cash flow and both intrinsic and CAPM-based measures of uncertainty … financial frictions arising from asymmetric information, proxied by firms' liquidity and degree of uncertainty. Measures of …

We investigate the impact of measures of uncertainty on firms' capital investment behavior using a panel of U.S. firms …. Increases in firm-specific and CAPM-based measures have a significant negative impact on investment spending, while market …-based uncertainty has a positive impact. …

We investigate the analytical and empirical linkages between cash flow, uncertainty and firms' capital investment … behavior. Our empirical approach constructs measures of own- and market-specific uncertainty from firms' daily stock returns … and S&P 500 index returns along with a CAPM-based risk measure. Our results indicate that even in the presence of …

We investigate the analytical and empirical linkages between cash flow, uncertainty, and firms' capital investment … behavior. Our empirical approach constructs measures of own- and market-specific uncertainty from firms' daily stock returns … and S&P 500 index returns along with a CAPM-based risk measure. Our results indicate that even in the presence of …

emphasized the importance of uncertainty in determining the private rate of investment. As different theories give various … results with respect to their assumptions, a new theory of investment under uncertainty is explained in this study. Intuition …. Among the viable projects, a project with shorter adjusted payback period is preferable. The more is the uncertainty about …

This paper investigates how firms manage their cash savings, financing, and investment when aggregate uncertainty is … time-varying. I develop and estimate a dynamic model featuring aggregate uncertainty shocks, costly external financing … to wait, both of which interact with time-varying uncertainty and are reinforced by state-dependent risk premia. My model …

The effects of sentiment should be strongest during times of heightened valuation uncertainty. As such, we document a … significant amplifying role for market uncertainty in the relation between sentiment and aggregate investment. A one …-standard-deviation increase in uncertainty more than doubles the effect of sentiment on investment. Moreover, allowing uncertainty …